Park News
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Pier purchase CNL acquires Santa Monica’s Pacific Park
Pacific Park, Santa Monica, California, has been sold to CNL Lifestyle Properties. Pacific Park is the two-acre amusement park on the Santa Monica Pier outside Los
Angeles. CNL now owns the park’s ground lease
and physical assets, while previous owner Santa Monica Amusements continues to operate the park on a day-to-day basis, lead by current CEO Mary Ann Powell. Apparently Santa Monica Amusements always considered it a long-term objective to sell the park. Actively for sale for the last few years, the timing for the CNL deal was right and the current financial arrangements are sound. The structure of the sale allows Powell the option to purchase the membership interests in Santa Monica Amusements within a year of closing.
“Business conditions made this a favourable time to sell the park,” highlights
Powell. “We identified CNL Lifestyle Properties as a long-term partner and good market fit.”
As the major tenant on the iconic Santa Monica Pier outside Los Angeles, the
two-acre amusement park contributes to drawing more than four million annual visitors every year. It is also one of Santa Monica’s largest youth employers as well as one of the city’s significant tax generators.
*CNL picks new park partners, page 16
Construction begins on Knott’s WindSeeker
Construction has begun in Buena Park, California, on Knott’s Berry Farm’s next new attraction, the WindSeeker. Originally intended to replace the park’s Sky Cabin observa- tion tower, the ride will now be located in the Knott’s Fiesta Village between Knott’s Carousel and the Jaguar roller- coaster.
One of four WindSeeker
rides in production for the Cedar Fair park chain by the Dutch manufacturer Mondial, Knott’s ride is scheduled to open sometime between May 30 and July 4. Rising over 300ft in the air, it will swing 64 passengers high above the park in 32 two-person gondolas. Once it has reached the top of the tower, WindSeeker will spread its steel arms swinging riders for a 60 second flight at a 45 degree angle at a speed of 8 rotations per minute. “Due to the long airtime," says Knott’s general manager Marty Keithley, "riders will experience a spectacular sense of weightlessness. This combined with the fact that riders legs will be unrestrained, will create a sense of exhilaration which will enhance the feeling of free flight.”
www.mondialrides.com Rio Watertoys
Young residents of the new Reserva Jardim in Jacarepagua condominium development in Rio de Janeiro can enjoy a selection of fun water features courtesy of Empex Watertoys.
The new installation is perfect for hot days in the Brazilian climate. Fabricated from composite and specialty plastics, the watertoys also have low electrical and heat conductivity, making them very attractive in the local climate.
www.watertoys.com
The new installation awaits condo residents 12 FEBRUARY 2011
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